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Neil Wilson The Australian Taxation Office (ATO) has issued Practice Statement Law Administration PS LA 2006/10 setting out the factors that will apply when the Commissioner exercises his discretion to vary foreign resident withholding amounts.

Andres Edelstein Gustavo Wunder In 2002 important changes were introduced in the Argentine personal assets tax law. As a result of this reform, it was assumed that the shares and/or participation in the capital of local companies whose owners are companies or other foreign-based legal entities ultimately belong to individuals or undivided estates located abroad.

International Tax Review's first Americas Awards got off to a strong start in late September. The ceremony was held at the Waldorf Astoria hotel in New York and more than 120 top tax professionals were in attendance to celebrate tax excellence

Anton Hume and Gerlinde Seinsche of BDO examine what possible changes to the UK's and Germany's CFC provisions because of the Cadbury Schweppes case could mean for taxpayers in both countries

Article 15 of the Agreement between the European Community and the Swiss Confederation (the Agreement), which set out measures equivalent to those laid down in Council Directive 2003/48/EC, provided for the application of the principles of Council Directive 2003/49/EC on a common system of taxation applicable to interest and royalties, and the principles of the Parent–Subsidiary Directive, to Switzerland. However, regarding Spain, those measures were not applicable until both countries reached a bilateral agreement on the exchange of information.

Peter Dachs The revised anti tax-avoidance provisions mentioned in last month's publication have been included in the Bill. The surprising aspect is that it appears as if such provisions will be retrospective. In particular, in terms of the Bill, these provisions will apply as from the commencement of years of assessment ending on or after January 1 2007. However it would not be surprising if these provisions were changed so as to ensure there is no element of retrospectivity. If not, affected South African taxpayers will have to analyze their transactions on a retrospective basis to determine whether such transactions complied with the provisions of the new law (which provisions would not have been known to such taxpayers at the time of entering into the transactions).

Nélio Weiss Philippe Jeffrey Following the publication of the Federal Decree 5922 on October 4 2006, the tax treaty for the avoidance of double taxation and the prevention of fiscal evasion concluded between Brazil and South Africa has entered into force. The provisions of the treaty will apply as of January 1 2007.

Indian ship owners and overseas charterers are unclear about the definition of royalty and use of equipment. The government should step in, believes Ketan Dalal of RSM & Co

The German government has published its plans for real estate investment trusts. The Bill compares favourably to similar structures in other countries, reveals Martin Buenning of Allen & Overy

The rules on preferred tax regimes need to change if local companies are to compete fairly with their international counterparts, believe Fred Barrett of PricewaterhouseCoopers and Timothy Cottrell of CEMEX